U.S. Markets open in 16 mins

Don't let the corona-crisis go to waste, ECB tells Italy

FILE PHOTO: European Central Bank President Lagarde addresses the European Parliament in Strasbourg

FRANKFURT (Reuters) - Italy must not let the economic crisis wrought by the coronavirus pandemic "go to waste" and should instead reform its stagnant economy so that it thrives after the outbreak, European Central Bank President Christine Lagarde said on Saturday.

"I therefore encourage you, as policymakers, not to let this crisis go to waste," Lagarde told Italian policymakers via video-link during a consultation launched by the government.

"My institution, the ECB, will play its part within its mandate. But it is for you to prove to citizens that our societies will emerge from this transformation stronger and greener," she added.


(Reporting By Francesco Canepa; Editing by Balazs Koranyi)